EUR/GBP Forecast August 29, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
Font Size
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The EUR/GBP pair rose during the session on Tuesday as the 0.7950 level is being tested again by the buyers. However, there is a serious resistance band above current prices that should keep the buyers down. We still see the 0.80 level as serious resistance, and that actually would continue all the way to the 0.8150 level.

Looking at this pair, we do want to sell weakness close to the 0.80 level, but would be more than willing to go long on a break of the 0.8150 level on a daily close. We think that the British pound will be relatively stronger than the Euro, and that is the name of the game. Because of this, we are looking for weak candles from which to sell.

EUR/GBP Forecast August 29, 2012, Technical Analysis

EUR/GBP Forecast August 29, 2012, Technical Analysis

Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network